Moore Capital Management LP Purchases New Shares in PACCAR Inc (NASDAQ:PCAR)

Moore Capital Management LP bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 85,201 shares of the company’s stock, valued at approximately $8,863,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new position in PACCAR in the fourth quarter valued at approximately $2,962,000. Janus Henderson Group PLC grew its stake in shares of PACCAR by 1.8% in the fourth quarter. Janus Henderson Group PLC now owns 66,713 shares of the company’s stock valued at $6,938,000 after buying an additional 1,202 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of PACCAR by 11.8% in the 4th quarter. Focus Partners Wealth now owns 11,792 shares of the company’s stock valued at $1,227,000 after buying an additional 1,240 shares during the period. Ellevest Inc. acquired a new position in PACCAR in the 4th quarter valued at about $209,000. Finally, Ethic Inc. increased its stake in PACCAR by 11.9% during the fourth quarter. Ethic Inc. now owns 114,662 shares of the company’s stock worth $11,927,000 after purchasing an additional 12,188 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Pierre R. Breber bought 5,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of research reports. StockNews.com upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Friday. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and reduced their price target for the company from $108.00 to $78.00 in a research report on Monday, April 7th. JPMorgan Chase & Co. cut PACCAR from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. Finally, Citigroup cut their target price on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PACCAR currently has an average rating of “Hold” and an average target price of $105.23.

PACCAR Stock Down 1.0%

Shares of NASDAQ:PCAR opened at $90.61 on Monday. The stock has a 50-day simple moving average of $94.45 and a 200-day simple moving average of $104.20. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 1 year low of $84.65 and a 1 year high of $118.81. The stock has a market capitalization of $47.57 billion, a P/E ratio of 11.46, a PEG ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The firm’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter last year, the business posted $2.27 earnings per share. Equities analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.46%. PACCAR’s dividend payout ratio is presently 20.00%.

PACCAR Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.